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Elon Musk Challenges Warren Buffet's Candy Empire With Cryptocandy

Elon Musk will apparently be creating a candy company called "cryptocandy."

Elon Musk Challenges Warren Buffet's Candy Empire With Cryptocandy
Elon Musk raises a fist as he and Tesla staff celebrate the company's initial public offering on the Nasdaq in June 2010. (Reuters)
By Mason Mohon

Elon Musk came out against the Oracle of Omaha’s method of moats at Tesla’s quarterly earnings call last week. Moats, a competitive buffer between one’s business and the rest of the competition, have historically been used by Warren Buffet. Musk came out and said:

“I think moats are lame. They are like nice in a sort of quaint, vestigial way. If your only defense against invading armies is a moat, you will not last long. What matters is the pace of innovation, that is the fundamental determinant of competitiveness.” -Musk

Buffett is a pretty big moat fan, so he did not take much enjoyment in Elon’s comments. The legendary investor said that “Elon may turn things upside down in some areas. I don’t think he’d want to take us on in candy.”

Warren Buffett is the proud owner of See’s Candy, which is touted as a prime example of successful moat-use.

Like any half-decent Entrepreneur, Elon saw this challenge as an opportunity, and will now be starting his own candy company.

At first glance, this may seem like banter. But Musk went ahead and doubled-down.

Taking into consideration Warren Buffet’s hatred of cryptocurrency, it seems that Elon Musk will also be incorporating them into his candy company.

Whether or not Elon is serious has yet to be determined. This could be just cryptocurrency banter, but it means the crypto world has caught Tesla’s CEO’s attention.

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